It has multiregional operations with offices in Hong Kong,
Singapore, Malaysia, US, Sweden, Norway and Denmark.

Its
strategy is planned growth by acquisitions in the US, Scandinavia
and Southeast Asia.

What
did our Customer want ?

Key business processes had to be web enabled to manage
the complete Lease Life Cycle via an integrated database
to increase process efficiency. Multiple users such as
Employees, Funders, Vendors and Customers had to be self
served real time via the web.

Control costs.

Required multicurrency consolidation as per IAS GAAP and
reporting from a Centralized operation.

A centralized India Centric Back Office supporting each
country of operation with Financial Accounting and Lease
Administration.

Back Office service delivery to be best in class.

Achieve efficiency and highest quality with minimum manpower
deployment on business processes.

What
did we offer ?

Financial
Accounting

General
Ledger accounting under IAS.

Multicurrency and multiregional consolidation.

Maintenance of accounting policies to insure
consistency in group reporting.

Controller
review of financials.

Billing & Collecting support in South
East Asia.

Facilitate tax and compliance .

Budgeting – budget vs. actual analysis.

Developed
a model for conversion of acquisitions made
in Sweden and Norway to an uniform IAS/US
GAAP accounting. There exist worldwide
differences in accounting treatment of leasing
transactions.

Maintaining lease data for all countries on
a specialized software platform.

Maintain leased asset based information.

Why
a Centralized Back Office & Why India ?

India
offers a low cost advantage. Customer incurs
a fraction of cost compared to the West
.e.g. remuneration of an accountant in India
is USD 1,500 vs. USD 7,500 in Sweden. Moreover
an ABL team member works 300 days a year
compared to an average of 235 work days
in Sweden.